ZIM Built-in Transport Companies has introduced consolidated outcomes for the three and 12 months ended December 31, 2023, noting a internet loss for the fourth quarter of $147 million (in comparison with a internet revenue of $417 million within the fourth quarter of 2022).
The web loss for the complete 12 months, together with a $2.06 billion non-cash impairment loss, was $2.69 billion (in comparison with a internet revenue of $4.63 billion for the complete 12 months of 2022).
Adjusted EBITDA for the fourth quarter was $190 million, a year-over-year lower of 80%. Adjusted EBITDA for the complete 12 months was $1.05 billion, a year-over-year lower of 86%.
Carried quantity within the fourth quarter was 786,000 TEUs, a year-over-year lower of 4.6%. Carried quantity within the full 12 months was 3,281 thousand TEUs, a year-over-year lower of two.9%.
Common freight fee per TEU within the fourth quarter was $1,102, a year-over-year lower of 48%. Common freight fee per TEU within the full 12 months was $1,203, a year-over-year lower of 63%.
Eli Glickman, ZIM President & CEO, said, “Towards a backdrop of weakened market situations, business disruptions and operational challenges in 2023, ZIM’s distinctive group of execs remained resilient and intently centered on attaining operational excellence and delivering the best degree of look after our valued prospects.
“On the identical time, we made vital progress advancing our strategic transformation and are happy to have already began to comprehend the favorable outcomes we projected. Particularly, we’re effectively on our solution to markedly enhancing our value construction, enhancing our industrial resilience, and enabling decreased carbon emissions for each ZIM and our prospects transferring ahead.”
Glickman added, “Our fleet renewal program, which incorporates 46 newbuild containerships, focuses on shifting ZIM’s reliance on older, much less fuel-efficient vessels to a price and fuel-efficient, extra sustainable and largely LNG-powered newbuild fleet, and is progressing as deliberate following the supply of 24 new vessels thus far. Our value per TEU is declining and we anticipate further enhancements as our 22 excellent newbuilds are delivered in the course of the the rest of the 12 months. We proceed to evaluation our providers to greatest deal with prospects’ evolving wants and place ZIM to capitalize on engaging development alternatives.
“Throughout a time when the market stays risky, our robust money place will allow us to proceed to keep up a long-term view as we deal with producing sustainable worth for each prospects and shareholders. Wanting forward, we intend to proceed to take decisive steps to additional profit from our strategic transformation and count on ZIM to emerge in a stronger place than ever in 2025 and past.”
In 2024, the Firm expects to generate Adjusted EBITDA between $850 million and $1,450 million and Adjusted EBIT between a lack of $300 million and earnings of $300 million.
